South Korea has some peculiar gambling laws. While gambling is legal in heavily regulated state-sanctioned lotteries, it is strictly prohibited among the nation’s locals. Likewise, foreign nationals working at legal gambling operations abroad are not allowed to gamble in their home country.
The Korean government has taken public opinion seriously. After a long period of criticism over a restrictive casino licensing law, the country reformed the regulations. This includes allowing more foreign investors to enter the market.
In addition, it has committed to further invest in the tourism industry. Despite this, the gambling industry is seen as a regressive activity that does not benefit the country as a whole.
A recent survey conducted by the Korea Center on Gambling Problems found that gambling is not a popular pastime among Koreans. However, it has been estimated that the gambling addiction of the average Korean is two to three times higher than the rates of other major countries.
There are 17 land-based casinos in the country. Some of them operate as stand-alone facilities while others are located inside five and four-star hotels.
There is a new integrated casino resort coming to Korea. However, despite the fact that this could be a boon for the nation’s economy, the government has not moved quickly enough to implement changes.
One of the major reasons for this is a negative public perception of the casino industry. This perception has grown due to the industry’s involvement in tax evasion and political corruption.